Wealth inequality has become starker within countries and globally. Joining the ranks of the richest 1% is never easy. The top 1% – frequently cited, sometimes maligned, but never really defined. The level of net wealth that marks the threshold for entering this rarefied community varies widely among different countries and territories. Interestingly, though, it falls far short of definition of a ultra-high net-worth (UHNW) individual, somebody whose net wealth exceeds $30 million.
Here is the level of net worth per country you need to join the richest 1% locally.
Rank | Country | Minimum wealth to join the richest 1% |
1. | Monaco | $7.9 million |
2. | Switzerland | $5.1 million |
3. | United States | $4.4 million |
4. | Singapore | $2.9 million |
5. | New Zealand | $2.8 million |
6. | Hong Kong | $2.8 million |
7. | Australia | $2.8 million |
8. | Ireland | $2.6 million |
9. | France | $2.1 million |
10. | Germany | $2 million |
11. | United Kingdom | $1.8 million |
12. | Taiwan | $1.5 million |
13. | Japan | $1.5 million |
14. | Spain | $1.4 million |
15. | Italy | $1.4 million |
16. | United Arab Emirates | $1.3 million |
17. | South Korea | $1.2 million |
18. | China | $850,000 |
19. | Malaysia | $540,000 |
20. | Russia | $400,000 |
21. | Argentina | $360,000 |
22. | Romania | $300,000 |
23. | Brazil | $280,000 |
24. | South Africa | $180,000 |
25. | Vietnam | $160,000 |
26. | Nigeria | $70,000 |
27. | India | $60,000 |
28. | Philippines | $60,000 |
29. | Indonesia | $60,000 |
30. | Kenya | $20,000 |